Last Updated on 10/09/2022
Fact checked by: Megan Jonson
If you’ve ever seen any bookmakers mentioning cashing out bets, you’ll probably be wondering ‘How does cash out betting work?’ We’re here to give you some easy ways of understanding the cash out option, so that you can get much more flexibility over your sports bets.
We won’t just answer the main question of ‘How does cash out betting work?’, but we’ll give you some great examples so that you can try cashing out at the best betting sites in Australia.
This should help you in understanding the cash out option in terms of its pros and cons, and you’ll see how this betting method compares alongside other top bet types.
Anybody who asks ‘How does cash out betting work?’ will also benefit from knowing about partial cash out bets, along with the best sports for this technique. Finally we’ll take a quick look at other great ways to get more from your sports bets.
Cash out betting is everywhere in the sports betting scene, but there will still be a few people who will be asking ‘How does cash out betting work?’.
To cash out a bet means that you can stop your bets before a sporting event has concluded. This decision is made in real-time, and it allows you to either lock in a profit, or minimise any losses.
By cashing out your bets early, you would stand a chance of hanging on to your profits and retaining a percentage of your initial betting stake.
The returns that you’d get on your cashed out bet would be smaller than if you’d stuck with your original bet for the duration of the sporting event. This shows that it’s good to know how betting odds are calculated when trying some cash out betting.
If you’re still asking ‘How does cash out betting work?’ it’s probably best to explain it with a couple of solid examples.
Let’s imagine that you’d signed up to one of the best betting sites with bank transfer in Australia and put a $10 bet on Melbourne Stars in a Big Bash League cricket match against Sydney Sixers.
Melbourne got a great score of 219/1, but Sydney made a strong start by going for 100/1 after just ten overs. Here you could cash out your bets and make sure that you get a percentage of the winnings that you’d have got had you stayed in for the duration of the original bet.
Another example would be that you went to one of the best betting sites with credit card in Australia and put down a bet on Newcastle Jets to get a surprise victory over Perth Glory in an A-League soccer match. Things didn’t go according to plan and Newcastle were down 0-3 at half-time.
Here you could once again cash out your bets and still get a proportion of your original betting stake back without blowing the whole of your stake by hanging on to the end of the match.
Both of these examples work well for 1×2 betting markets, but they could be applied to many other sports bets. Be sure to read our guide to ‘What is 1×2 betting?’ to find out more about these betting markets.
By giving you the answer to the question of ‘How does cash out betting work?’, you should hopefully be able to see that it gives you much more flexibility with your sports bets.
This is because you could go anywhere from the best betting sites with Neteller in Australia to the best betting sites with PayPal in Australia and cash out your bets pre-match, mid-game or even between legs.
Above all, cash out betting takes away a lot of that anxiety that can appear late in a sporting event when you’re trying to hang on to a winning bet.
The main reason why you might not want to cash out your bet is the fact that you’d be getting smaller returns, compared to if you’d stuck with your original bet for the duration of the game. If you know how bookmakers make money, you’ll realise that they’d be unlikely to give you the full value of your bet once you’d exited the bet early.
There’s also something a little underwhelming about quitting your bets early and it takes some of the fun out of sports betting.
Plus you might find that some bookmakers will suddenly withdraw the cash out betting option for some markets. When this happens you might not be able to use the best resource for making bookmaker complaints Australia has to offer, as this procedure is fairly common among sports betting sites.
If you know the answer to the question of ‘What is Asian handicap betting?’, you’ll know that bookmakers will give you plenty of options for making some advanced bets. The partial cash out betting option is fairly complicated, but it ultimately gives you even more flexibility over how you can cash out bets.
With a partial cash out, you’d withdraw a percentage of your bet, while keeping a part of the original bet still going. You’ll commonly get to use a slider to set how much of your bet you want to cash out. Probably not a good idea for anyone who’s asking which bookmaker is the best for beginners in Australia, but it can be useful for an extra level of insurance.
Cash out betting works great for sports that have fairly stop-start nature such as tennis, golf and cricket. However, we’ve also found that it’s also effective to cash out bets on other sports like soccer, Australian rules football, rugby, basketball and much more.
You might find that even some of the best betting sites with Skrill in Australia or even the best betting sites with Bitcoins in Australia will allow you to try cash out betting for horse racing. However, it’s important to note that this won’t allow you to cash out your bets mid-race. Instead, you’ll probably only be able to cash out your bets before the race has actually begun.
We should also note that cash out betting might not work with a betting exchange in Australia, but you’ll have plenty of chances to use the best strategy for no risk matched betting Australia has ever seen here.
Once you’ve found out the answer to the question of ‘Is online gambling legal in Australia?’ you’ll realise that there’s plenty more ways to make some decent profits from legal sports betting.
Obviously working out which sites have the most cost-effective payment methods is essential, and we’d recommend checking out the best betting sites with EcoPayz in Australia.
But from using bonuses to taking a look at some betting techniques featured in our online betting guide for Australia, you’ll find that there’s no shortage of ways to improve your sports betting knowhow.
Just remember to gamble responsibly and research your bets thoroughly for the best ways to win big when betting on your favourite sport.